Smartfren posted huge losses during the first three months of this year. Sinar Mas Group is rumoured to be reviving this telecommunication business wing in an inorganic way.
Unilever will release its margarine business assets to Sigma Bidco BV and focus on developing other brands in home and personal care and food and refreshment.
Media Nusantara Citra (MNC) will release 30 percent of MNC Studios International shares through an IPO to support expansion, including the development of Movie Land in Lido.
Bumi Resources Minerals has divested its shares in Dairi to a Chinese investor. This is Bakrie’s effort to settle their debts and make its dreams come true in the mineral mining business.
ExxonMobil has acquired Federal Oil from Edwin Soeryadjaya’s company. This will increase competition in the lubricant business with Pertamina and Shell.
Rating agencies have downgraded the credit rating of Lippo Karawaci and its subsidiaries due to cash flow risk and debt burden. Lippo group rating has also been dragged into the crisis.
Adaro Energy is expanding its business by targeting power plant projects in a number of Asian countries. The coal producer is teaming up with strategic partners from Japan, Korea, China, and Thailand.
Kimia Farma is preparing for inorganic expansion through the acquisition of pharmaceutical companies and hospitals. In this digital era, it is also planning to open an online outlet.